Mission Wealth Management LP Purchases New Stake in TMC the metals company Inc. $TMC

Mission Wealth Management LP acquired a new position in shares of TMC the metals company Inc. (NASDAQ:TMC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 300,000 shares of the company’s stock, valued at approximately $1,980,000. Mission Wealth Management LP owned approximately 0.08% of TMC the metals as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wolverine Asset Management LLC raised its position in shares of TMC the metals by 752.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company’s stock valued at $33,000 after buying an additional 4,365 shares in the last quarter. Corundum Group Inc. bought a new position in TMC the metals in the second quarter valued at approximately $69,000. American Institute for Advanced Investment Management LLP acquired a new position in TMC the metals during the second quarter valued at approximately $86,000. Arkadios Wealth Advisors bought a new stake in TMC the metals during the second quarter worth $89,000. Finally, Allworth Financial LP lifted its stake in TMC the metals by 48.0% during the first quarter. Allworth Financial LP now owns 14,796 shares of the company’s stock worth $25,000 after purchasing an additional 4,796 shares during the last quarter. 4.39% of the stock is owned by institutional investors.

TMC the metals Stock Performance

Shares of TMC opened at $7.07 on Monday. TMC the metals company Inc. has a 52 week low of $0.72 and a 52 week high of $11.35. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -19.11 and a beta of 1.71. The stock has a fifty day moving average of $6.76 and a 200-day moving average of $5.70.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). As a group, equities analysts forecast that TMC the metals company Inc. will post -0.22 EPS for the current year.

Insider Activity

In other news, insider Anthony O’sullivan sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $5.25, for a total value of $1,312,500.00. Following the completion of the transaction, the insider owned 1,125,667 shares of the company’s stock, valued at $5,909,751.75. This represents a 18.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Erika Ilves sold 1,591,485 shares of TMC the metals stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the sale, the insider owned 1,145,792 shares in the company, valued at approximately $6,611,219.84. This represents a 58.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 27.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TMC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research note on Wednesday, October 8th. Zacks Research cut TMC the metals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.25 target price on shares of TMC the metals in a report on Monday, August 18th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, TMC the metals currently has a consensus rating of “Hold” and an average price target of $7.33.

TMC the metals Company Profile

TMC the metals company Inc, a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in California. It primarily explores for nickel, cobalt, copper, and manganese products. The company holds exploration and commercial rights in three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean.